Nigeria

Nigeria: Discover business opportunities in the biggest African market

A small percentage of Nigerians own credit cards, alternative payment methods are key to reaching this audience

Demerge Nigeria Limited is a limited company incorporated in Nigeria and licensed by the Central Bank of Nigeria as a Payment Solution Service Provider

Market Overview

eCommerce market revenue is expected to grow at a rate of 10.81% per year (CAGR 2023-2027)* * Source: Statista, 2023

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Gain insight into Nigeria's most relevant payment methods

  1. 29% Bank Transfer
  2. 20% Debit Cards
  3. 17% Credit Card
  4. 16% Cash on Delivery
  5. 10% eWallets
  6. 8% Others

Most commonly used options

  • OPay

    OPay

    Omnichannel
  • Paga

    Paga

    Cash-based payments
  • Verve

    Verve

    Credit and debit cards
  • Credit and debit cards

    Play like a local by offering traditional payment methods.

    • Visa
    • Mastercard
    • Verve
  • Wallets

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    Tackle all audiences.

    • OPay
    • Paga
  • Bank Transfers

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    Count on a wide variety of options to drive conversion.

    • Zenith
    • GT Bank
    • Unity Bank
    • First Bank
    • Sterling Bank
    • Providus Bank
    • Access
    • Okra

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The ultimate guide to unlocking eCommerce growth in Nigeria

The ultimate guide to unlocking eCommerce growth in Nigeria
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